Municipal Bond Market Summary – Week Ending 4/24/20
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Municipal Bond Market Summary: Week Ending 4/24/20
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 Muni Bond “Winners” based on price movements between 4/17/20 – 4/24/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | NYC IDA YANKEE STADI | 0.00% | 03/01/44 | 14.18% | 45.31 | 39.68 |
| 2 | ROSEVILLE CA JT UNHSD | 0.00% | 08/01/42 | 10.84% | 53.90 | 48.63 |
| 3 | ALAMEDA USD-B-ELECTIO | 0.00% | 08/01/33 | 9.95% | 70.21 | 63.86 |
| 4 | CHULA VISTA CA ESD | 2.50% | 09/01/45 | 7.53% | 97.65 | 90.81 |
| 5 | FRISCO ISD-REF-CABS | 0.00% | 08/15/34 | 7.52% | 69.33 | 64.48 |
| 6 | MARICOPA SD #2-D | 5.00% | 07/01/23 | 7.39% | 112.32 | 104.59 |
| 7 | TX TECH UNIV REV-A | 2.90% | 02/15/27 | 7.25% | 104.95 | 97.85 |
| 8 | NORTHVILLE SCHS-II | 5.00% | 05/01/27 | 7.25% | 123.08 | 114.76 |
| 9 | RIDGEWOOD VLG | 3.00% | 08/01/26 | 7.23% | 110.74 | 103.27 |
| 10 | OHIO ST-A-GEN RECPTS | 4.00% | 06/01/43 | 7.23% | 106.16 | 99.00 |
Top 10 Losers
Showcases the top 10 Muni Bond “States” based on price movements between 4/17/20 – 4/24/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CAPITAL TRST AGY-A | 6.75% | 10/01/37 | -13.51% | 77.52 | 89.64 |
| 2 | LOUISIANA ST LOCAL GO | 3.50% | 11/01/32 | -10.32% | 98.50 | 109.84 |
| 3 | PR INFRA-CABS-A | 0.00% | 07/01/29 | -7.39% | 62.78 | 67.79 |
| 4 | LAS VEGAS NEW CONV-B | 5.00% | 07/01/26 | -6.69% | 111.36 | 119.34 |
| 5 | CALIFORNIA ST EDUCTNL | 5.00% | 10/01/43 | -6.65% | 113.18 | 121.25 |
| 6 | SHELBY CNTY TN HLTH E | 5.00% | 05/01/29 | -6.32% | 113.11 | 120.74 |
| 7 | NEW YORK ST DORM AUTH | 4.00% | 07/01/43 | -6.23% | 102.55 | 109.36 |
| 8 | CT ARPT AUTH-B-AGM | 3.98% | 07/01/33 | -6.05% | 104.33 | 111.05 |
| 9 | LAS VEGAS CONSV-REF | 4.00% | 07/01/33 | -5.89% | 103.82 | 110.32 |
| 10 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/30 | -5.83% | 106.81 | 113.42 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 4/17/20 – 4/24/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -21 bps | 1.98% | 2.19% |
| 2 | NC | -4 bps | 1.55% | 1.59% |
| 3 | IN | -3 bps | 2.40% | 2.43% |
| 4 | VA | -3 bps | 1.99% | 2.02% |
| 5 | IA | -2 bps | 1.76% | 1.78% |
| 6 | NJ | -1 bps | 2.05% | 2.06% |
| 7 | ME | 2 bps | 1.61% | 1.59% |
| 8 | IL | 7 bps | 3.21% | 3.14% |
| 9 | FL | 10 bps | 2.12% | 2.03% |
| 10 | MD | 10 bps | 1.63% | 1.53% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 4/17/20 – 4/24/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MS | 58 bps | 2.33% | 1.76% |
| 2 | MN | 53 bps | 2.03% | 1.51% |
| 3 | OK | 47 bps | 2.17% | 1.70% |
| 4 | AL | 42 bps | 2.23% | 1.81% |
| 5 | OH | 38 bps | 2.75% | 2.36% |
| 6 | SC | 37 bps | 2.08% | 1.71% |
| 7 | HI | 35 bps | 2.42% | 2.06% |
| 8 | CO | 35 bps | 2.06% | 1.70% |
| 9 | OR | 34 bps | 2.21% | 1.87% |
| 10 | LA | 32 bps | 2.44% | 2.12% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 4/17/20 – 4/24/20 (General Obligation and Revenue Bonds) Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – GO Only
Displays the average Muni 10 year yield by state between 4/17/20 – 4/24/20 (General Obligation Bonds only) Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – Rev
Displays the average Muni 10 year yield by state between 4/17/20 – 4/24/20 (Revenue Bonds only) Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
Sentiment
Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 4/17/20 – 4/24/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 4/17/20 vs. the week ending 4/24/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HAWAII ST | 5.00% | 10/01/29 | 10 | 107 | 97 | 970% |
| 2 | CA MUNI FIN AUTH-A | 5.00% | 06/01/42 | 14 | 73 | 59 | 421% |
| 3 | CLARK CO-PARKS IMPT | 5.00% | 12/01/27 | 18 | 70 | 52 | 289% |
| 4 | OHIO ST-A | 5.00% | 02/01/35 | 9 | 60 | 51 | 567% |
| 5 | FAIRFAX CO | 4.50% | 10/01/27 | 5 | 56 | 51 | 1020% |
| 6 | FLEMINGTON RARITAN NJ | 2.25% | 09/01/30 | 21 | 70 | 49 | 233% |
| 7 | CALIFORNIA ST-REF | 5.00% | 04/01/31 | 13 | 62 | 49 | 377% |
| 8 | MIAMI BEACH W/S-REF | 5.00% | 09/01/47 | 25 | 73 | 48 | 192% |
| 9 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/31 | 52 | 100 | 48 | 92% |
| 10 | ELK GROVE USD | 4.00% | 08/01/46 | 10 | 57 | 47 | 470% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 4/17/20 – 4/24/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | UTAH ST | 5.00% | 07/01/26 | 29 |
| 2 | HAWAII ST | 5.00% | 10/01/29 | 28 |
| 3 | TEXAS ST-TRANS | 4.00% | 08/27/20 | 28 |
| 4 | MULTNOMAH CO SD #1J | 5.00% | 06/15/29 | 27 |
| 5 | COLLIN CNTY TX CMNTY | 3.00% | 08/15/40 | 26 |
| 6 | LOVE FIELD ARPT-SW AI | 5.25% | 11/01/40 | 25 |
| 7 | LAS VEGAS VLY WTR-A | 5.00% | 06/01/46 | 25 |
| 8 | CALIFORNIA ST | 5.00% | 03/01/33 | 23 |
| 9 | COLUMBUS OH | 5.00% | 04/01/33 | 23 |
| 10 | CA DEPT WTR RESOURCES | 5.00% | 05/01/22 | 22 |
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